Challenger Limited (ASX:CGF) (Challenger) today announced that it has brought forward and successfully completed the Bookbuild for the offer of Challenger Capital Notes 4 (the Offer).

Due to strong demand, Challenger has allocated $350 million in Challenger Capital Notes 4 on a firm basis under the New Money Offer and the Reinvestment Offer, which is an increase from the original Offer size of $250 million announced at the launch of the Offer.

The Margin has been set at 3.60% per annum, which is at the bottom of the range of 3.60% to 3.80% per annum indicated at the launch of the Offer.

A replacement prospectus (Prospectus) containing the Margin and revised Offer size is expected to be lodged with the Australian Securities and Investments Commission (ASIC) and the Australian Securities Exchange (ASX) on Wednesday, 15 March 2023. The Prospectus will be available at www.challengercapitalnotes.com.au.

Applications for Challenger Capital Notes 4 under the Offer can only be made by eligible investors through a Syndicate Broker. The Offer opens on Wednesday, 15 March 2023 and is expected to close at 5:00pm (Sydney time) on Thursday, 30 March 2023.

Eligible investors applying for Challenger Capital Notes 4 should speak to their Syndicate Broker for instructions on how to apply for Challenger Capital Notes 4, read and consider the Prospectus in full before deciding whether to invest in Challenger Capital Notes 4, and complete an Application Form accompanying the Prospectus. A list of the Syndicate Brokers is contained in the Prospectus.

For further enquiries, please call the Offer Information Line on 1800 780 782 (within Australia) or +61 3 9415 4065 (outside Australia) Monday to Friday, 8:30am to 5:00pm (Sydney time), or contact your Syndicate Broker.

Unless otherwise specified, capitalised terms in this announcement have the meaning given to them in the Prospectus.